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Real convergence in the euro area : a long-term perspective

Díaz del Hoyo, Juan L.; Dorrucci, Ettore; Heinz, … - 2017

that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view" and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a "non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

Persistent link: https://www.econbiz.de/10011755500

The transition of China to sustainable growth : implications for the global economy and the euro area

Dieppe, Alistair (ed.); Gilhooly, Robert (ed.); … - 2018

China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...

Persistent link: https://www.econbiz.de/10011792634

Towards a single performance indicator in the EU's fiscal governance framework : an assessment of the expenditure and structural balance rules in the European fiscal governance fra...

Benalal, Nicholai; Freier, Maximilian; Melyn, Wim; … - 2022

A key element of the European reform agenda is to simplify the EU fiscal governance framework by moving towards a single debt anchor and a single operational indicator as the basis for formulating fiscal targets and assessing compliance. This paper puts forward an in-depth analysis of two...

Persistent link: https://www.econbiz.de/10012800643

Fostering cyclical convergence in the Euro Area

Gori, Filippo - 2021

convergence in the currency union. …

Persistent link: https://www.econbiz.de/10012801162

Monetary-fiscal policy interactions in the euro area

2021

The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...

Persistent link: https://www.econbiz.de/10012650770

Public and private risk sharing : friends or foes : the interplay between different forms of risk sharing

Giovannini, Alessandro; Ioannou, Demosthenes; Stracca, Livio - 2022

Well-functioning risk-sharing arrangements are essential for the shock absorbing capacity and resilience of an economy, even more so for countries in a monetary union where the single monetary policy is unable to address asymmetric shocks. The common shocks that euro area member states have been...

Persistent link: https://www.econbiz.de/10013256112

The macroeconomic and fiscal impact of population ageing

Bodnár, Katalin; Nerlich, Carolin - 2022

The euro area, like many other advanced economies, has entered an era of drastic demographic change. Without appropriate policy responses, population ageing in the euro area is posing formidable challenges for potential growth, monetary policy and public finances. This paper examines - from a...

Persistent link: https://www.econbiz.de/10013286706

The economic impact of next generation EU : a euro area perspective

Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022

convergence across countries. Finally, the effect of NGEU on euro area inflation over the medium term is deemed to be contained to …

Persistent link: https://www.econbiz.de/10013188827

Short-Term Pain for Long-Term Gain : The Impact of Structural Reform on Fiscal of Outcomes in EMU

van den Noord, Paul - 2006

The 2005 reform of the EU Stability and Growth Pact has provided leeway for governments to let their fiscal deficit temporarily breach the 3% rule to finance the immediate budgetary cost of structural reform, such as compensation schemes to offset redistributive effects. Against this backdrop,...

Persistent link: https://www.econbiz.de/10012443961

Catching-up and Inflation in Europe : Balassa-Samuelson, Engel's Law and Other Culprits

Égert, Balázs - 2010

periods of very fast growth. We interpret these results as a sign that price level convergence comes from goods, market and …

Persistent link: https://www.econbiz.de/10012444720